Today's mortgage rates stay historically low overall | January 8, 2021

01/22/2021 Economy

Check out the mortgage rates for January 8, 2021, which are unchanged from yesterday. (iStock)

Based on data compiled by Credible Operations, Inc., NMLS Number 1681276, mortgage rates remained unchanged since yesterday.

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  • 30-year fixed-rate mortgages: 2.500%, Unchanging
  • 20-year fixed-rate mortgages: 2.375%, Unchanging
  • 15-year fixed-rate mortgages: 1.875%, Unchanging

Rates last updated on January 8, 2021. These rates are based on the assumptions shown here. Actual rates may vary.

To find the best mortgage rate, start by using Credible. Credible can show you current mortgage rates for conventional loans from multiple lenders and help you make an informed decision regarding your home loan.

Looking at today’s mortgage refinance rates

Today’s mortgage refinance rates have risen since yesterday. Though 30-year and 20-year fixed mortgages inched higher, 15-year rates did not budge from 2.000%, a record low that was achieved yesterday. If you’re considering refinancing an existing home, check out what refinance rates look like:

  • 30-year fixed-rate refinance: 2.625%, Up from 2.500%, +0.125 
  • 20-year fixed-rate refinance: 2.625%, Up from 2.500%, +0.125
  • 15-year fixed-rate refinance: 2.000%, Unchanging

Rates last updated on January 8, 2021. These rates are based on the assumptions shown here. Actual rates may vary.

A site like Credible can be a big help when you’re ready to compare mortgage refinance loans. Credible lets you see prequalified rates for conventional mortgages from multiple lenders all within a few minutes. Visit Credible today to get started.

Current mortgage rates

Today marks the fourth consecutive day that mortgage interest rates across all types remain steady. Fixed mortgages continue to hover near historical lows, with 30-year rates holding firm at 2.500% for 30 straight days.

Current 30-year fixed-rate mortgages

The current interest rate for a 30-year fixed-rate mortgage is 2.500%. This is the same as yesterday.

Current 20-year fixed-rate mortgages

The current interest rate for a 20-year fixed-rate mortgage is 2.375%. This is the same as yesterday.

Current 15-year fixed-rate mortgages

The current interest rate for a 15-year fixed-rate mortgage is 1.875%. This is the same as yesterday.

You can explore your mortgage options in minutes by visiting Credible to compare current rates from various lenders. Check out Credible and get prequalified today.

Rates last updated on January 8, 2021. These rates are based on the assumptions shown here. Actual rates may vary.

How mortgage rates have changed

Today, mortgage rates are unchanged compared to this time last week.

  • 30-year fixed-rate mortgages: 2.500%, the same as last week 
  • 20-year fixed-rate mortgages: 2.375%, the same as last week 
  • 15-year fixed-rate mortgages: 1.875%, the same as last week 

Rates last updated on January 8, 2021. These rates are based on the assumptions shown here. Actual rates may vary.

If you’re trying to find the right rate for your home mortgage, consider using Credible. You can use Credible's free online tool to easily compare multiple lenders and see prequalified rates in just a few minutes.

The factors behind today’s mortgage rates

Current mortgage and refinance rates are affected by many economic factors, like unemployment numbers and inflation. But your personal financial history will also determine the rates you’re offered.

Larger economic factors

  • Strength of the economy
  • Inflation rates
  • Employment
  • Consumer spending
  • Housing construction and other market conditions
  • Stock and bond markets
  • 10-year Treasury yields
  • Federal Reserve policies

Personal economic factors

  • Credit score
  • Credit history
  • Down payment size
  • Loan-to-value ratio
  • Loan type, size, and term
  • Debt-to-income ratio
  • Location of the property

How to get your lowest mortgage rate

If you want low mortgage rates, improving your credit score and paying down any other debt could secure you a lower rate. The size of your down payments also affects mortgage rates, with a low down payment likely to yield you a higher rate.

It’s also a good idea to compare rates from different lenders to find the best rate for your financial goals. According to research from Freddie Mac, borrowers can save $1,500 on average over the life of their loan by shopping for just one additional rate quote — and an average of $3,000 by comparing five rate quotes.

Credible can help you compare current rates from multiple mortgage lenders at once in just a few minutes. Use Credible’s online tools and get prequalified today.

Mortgage interest rates by loan type

Whether you’re a first-time homebuyer shopping for a 30- or 15-year mortgage, or you’re looking to refinance an existing home, Credible can help you find the right mortgage for your financial goals.

Be sure to check out these loan rates, which you’ll be able to compare by annual percentage rate (APR) as well as interest rate:

  • 30 Year Fixed Mortgage Rates
  • 20 Year Fixed Mortgage Rates
  • 15 Year Fixed Mortgage Rates
  • 10 Year Fixed Mortgage Rates
  • 30 Year Fixed Refinance Rates
  • 20 Year Fixed Mortgage Rates
  • 15 Year Fixed Refinance Rates
  • 10 Year Fixed Mortgage Rates

More resources on getting a home loan

Want to learn more about how to get a mortgage? Take a look at the following articles:

  • How to Get a Home Loan
  • Here’s What You Need to Get a Conventional Loan
  • How to Find the Best Mortgage Lender

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